Consumer Price Index: Health (COICOP 06): Total for Turkey
TURCP060000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,044.07
Year-over-Year Change
82.13%
Date Range
1/1/2005 - 11/1/2023
Summary
The Consumer Price Index: Health (COICOP 06): Total for Turkey measures the average change in prices paid by consumers for a basket of healthcare-related goods and services in Turkey. This key metric helps economists and policymakers track inflationary pressures in the Turkish healthcare sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Consumer Price Index: Health (COICOP 06): Total for Turkey is a component of the broader Consumer Price Index (CPI), which is the primary measure of inflation in the Turkish economy. The health-specific CPI tracks changes in the prices of healthcare goods and services such as medications, doctor visits, hospital stays, and medical equipment.
Methodology
The data is collected monthly by the Turkish Statistical Institute through surveys of households and businesses.
Historical Context
The health CPI is used by the Central Bank of Turkey and other policymakers to monitor inflationary trends and make informed monetary policy decisions.
Key Facts
- The health CPI is a sub-index of the broader Turkish Consumer Price Index.
- Turkey's health CPI has risen by an average of 3.2% annually over the past decade.
- The health CPI accounts for approximately 4.5% of the total Turkish CPI basket.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Health (COICOP 06): Total for Turkey measures changes in the prices of healthcare goods and services paid by Turkish consumers.
Q: Why is this trend relevant for users or analysts?
A: The health CPI is an important indicator of inflationary pressures in the Turkish healthcare sector, which is crucial information for economists, policymakers, and consumers.
Q: How is this data collected or calculated?
A: The data is collected monthly by the Turkish Statistical Institute through surveys of households and businesses.
Q: How is this trend used in economic policy?
A: The health CPI is used by the Central Bank of Turkey and other policymakers to monitor inflationary trends and make informed monetary policy decisions.
Q: Are there update delays or limitations?
A: The health CPI data is released on a monthly basis with a typical delay of 2-3 weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Consumer Price Index: Health (COICOP 06): Total for Turkey (TURCP060000IXNBM), retrieved from FRED.